Making a life insurance claim: What happens?
We buy protection insurance for the peace of mind - the financial safety net in case the worst were to happen, but what if the worst did actually happen? What if you were hit by a serious illness or a loved one passed away? Would you know how to make a claim on your critical illness insurance policy or a family member’s life insurance policy? In this guide we take you through the four steps in a typical claims process, telling you everything you need to know in case you ever find yourself faced with this difficult situation.
Now, it’s probably worth saying here that insurance rarely tops the list of happy conversation topics, and that’s because usually people think insurance never pays out, or that it’s really hard to claim. So it may surprise you to hear that in 2019, the protection insurance industry paid out over 98% of all claims, that’s over £5 billion in total to around 300,000 families !
So now that the main insurance myth has officially been debunked, let’s dive into the claims process.
- Step 1: Find the policy details
- Step 2: Contact your protection adviser or insurer
- Step 3: Get your documentation together
- Step 4: Submit your claim
- Step 5: Receive your insurance payout
This process could be a little trickier if you’re claiming on a loved one’s life insurance policy, because you may not know much about their policy, which is why it’s always a good idea to keep your family in the loop with the type of insurance cover you have and where your policy documents are stored, just in case they ever need to make a claim.
Now that you’ve got the policy details, you can contact your insurer directly, or your protection adviser to make a claim. You’ll be put through to a specialised team and then can either go through the claims process over the phone, or you may opt to have the claims form posted to your home, which you can then fill in, in your own time.
At LifeSearch, we have a dedicated claims team, in fact we’re one of the few UK protection advisers who do! The team are absolute experts when it comes to claims, which means that they know how to navigate the process with insurers and get a policy payout to you quickly. But most importantly, they’re there for you - lending a friendly ear and emotional support with care and empathy, making the claims process as pain free as possible. If you’re a LifeSearch customer and need to make a claim on your policy, call the claims team on 0203 764 0103.
In order to submit a claim, you’ll need to provide some information. This will be things like the policy number, the name of the person who passed away and their cause of death, as well as your relationship to them. If you’re claiming on your own critical illness insurance or income protection insurance policy, you’ll be asked about your condition and you may need to provide your GP’s contact details so that the insurer can access your medical notes. You can find out more about the types of information you’ll be asked for here.
Death and illness are horrible things for any family to face, which is why we set up LifeSearch Care, our free care service offering support to those customers who are struggling to come to terms with a loved one passing away or accepting a diagnosis. LifeSearch Care provides access to a team of qualified nurses who offer practical and emotional support to both customers and their families.
If you’re claiming on your own policy, you may be asked to provide your birth certificate, as proof of your age. You may also be asked for your P60 to prove your income, if you’re claiming on an income protection policy.
The claims team here at LifeSearch works closely with insurers and regularly communicates with customers to update them at each stage of their claim journey. It can be reassuring to know that you have a team of experts behind you, moving things along and getting you the decision you need as soon as possible.
You’re probably wondering about the 2% of claims which don’t get paid? Well most are because people aren’t completely honest when they apply for their protection insurance policy. They may not disclose an existing health condition for example, or perhaps they claim they are non-smokers, when in fact, they’re partial to the occasional cigarette. As always with insurance - honesty is the best policy!
I want to know more…We’re here to help. Call us on 0800 316 7253 or request a callback from one of our expert protection advisers who will happily answer any questions you have, whether that’s about the claims process, or protection insurance more generally! We look forward to chatting with you soon.
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